any ideas?, page-3

John Toll,

According to my numbers which are based on MML's own projections for FY2010, the stock is still only priced at a forward PER of c. 7.8, whereas the sector average for producers is running at c. 25. Therefore, in my view, MML is still fundamentally under-valued.

In addition to the clearly stated incremental ramp-ups in production due from the phase II development at Co-O there is also on-going exploration local to Co-O which the company appears confident will lead to further expansion. Plus, there would appear to be a strong possibility of a second mine at Bananghilig if the ongoing exploration continues to reinforce the economic feasibility of an open-pit, shallow oxides operation.

Sufficient reasons I believe for the stock to continue to rise towards a reasonable approximation to 'fair' value.
CPDLC